BofA raised the firm’s price target on Kohl’s (KSS) to $18 from $8.40 and keeps an Underperform rating on the shares. Following the company’s Q3 report, the firm is increasing its FY25 and FY26 EPS estimates and raising its multiple to reflect less severe sales decline. BofA reiterates an Underperform rating as it continues to view a sales rebuild as challenging in a volatile macro backdrop and sees “a long road to achieving improved profitability.”
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